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Brocade intends to price $300 million 10-year notes Wednesday
By Paul A. Harris and Aleesia Forni
Columbus, Ohio, Jan. 16 - Brocade Communications Systems Inc. plans to price $300 million senior notes due 2023 on Wednesday, a market source said.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunners.
Bank of America Merrill Lynch is a senior co-manager.
HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. are the co-managers.
The Rule 144A with registration rights notes will be non-callable for five years.
Proceeds will be used to redeem all of the company's outstanding 6 5/8% senior secured notes due 2018.
Brocade is a San Jose, Calif.-based supplier of end-to-end internet protocol based ethernet and storage area networking products.
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